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The advance in knowledge and useful new factors based on such knowledge are all too frequently put aside as if they were not produced means of produc… - Theodore Schultz
" "The advance in knowledge and useful new factors based on such knowledge are all too frequently put aside as if they were not produced means of production but instead simply happened to occur over time. This view is as a rule implicit in the notion of technological change.
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About Theodore Schultz
Theodore William "Ted" Schultz (30 April 1902 – 26 February 1998) was an American economist and chairman of the University of Chicago Department of Economics, who was the 1979 winner, jointly with William Arthur Lewis, of the Nobel Memorial Prize in Economic Sciences.
Also Known As
Native Name:
Theodore William Schultz
Alternative Names:
Theodore W. Schultz
•
Teodoro Guillermo Schultz
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Additional quotes by Theodore Schultz
[Schultz specifically refers to the manner in which inputs are used when he states that one implication of his] efficient but poor hypothesis... [is] that the combination of crops grown, the number of times and depth of cultivation, the time of planting, watering, and harvesting, the combination of hand tools, ditches to carry water to the fields, draft animals and simple equipment -- are all made with a fine regard for marginal costs.
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